New York State Common Retirement Fund Lowers Holdings in Essential Utilities, Inc. (NYSE:WTRG)

New York State Common Retirement Fund decreased its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 543,404 shares of the company’s stock after selling 1,446 shares during the quarter. New York State Common Retirement Fund’s holdings in Essential Utilities were worth $19,736,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Glenmede Trust Co. NA raised its position in Essential Utilities by 1.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company’s stock worth $2,001,000 after buying an additional 803 shares during the last quarter. Synergy Asset Management LLC grew its stake in shares of Essential Utilities by 92.8% during the 4th quarter. Synergy Asset Management LLC now owns 148,009 shares of the company’s stock valued at $5,529,000 after purchasing an additional 71,222 shares during the period. Nordea Investment Management AB grew its stake in shares of Essential Utilities by 16.7% during the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after purchasing an additional 972,803 shares during the period. Empower Advisory Group LLC grew its stake in shares of Essential Utilities by 5.6% during the 3rd quarter. Empower Advisory Group LLC now owns 1,585,475 shares of the company’s stock valued at $61,152,000 after purchasing an additional 84,596 shares during the period. Finally, Brighton Jones LLC bought a new stake in shares of Essential Utilities during the 4th quarter valued at about $638,000. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Trading Up 1.7 %

Shares of NYSE:WTRG opened at $36.58 on Friday. The stock has a 50 day moving average of $35.54 and a 200 day moving average of $37.90. The company has a market cap of $10.04 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 2.57 and a beta of 0.86. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78.

Essential Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a dividend of $0.3255 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.56%. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WTRG shares. Robert W. Baird boosted their price target on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Jefferies Financial Group upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, January 28th. UBS Group cut their price target on Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company downgraded Essential Utilities from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $43.00 to $39.00 in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

About Essential Utilities

Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas services in the United States. The company operates through Regulated Water and Regulated Natural Gas segments. It offers water services through operating and maintenance contract with municipal authorities and other parties.